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of <h1>Government May Recognize Trade Associations Under Forward Contracts Act 1952 for Public Interest and Trade Benefits.</h1> The Central Government may grant recognition to an association under the Forward Contracts (Regulation) Act, 1952, if it deems it beneficial for trade and public interest. This recognition, subject to prescribed conditions, specifies the goods for forward contracts among association members. Before granting recognition, the government may impose conditions on membership limits and appoint representatives to the association's governing body. Any amendments to the association's rules require government approval. Recognition is published in the Gazette of India and the relevant State's Official Gazette, becoming effective from the publication date.
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